Construction Cost Increases Are Unrelenting
Construction costs are continuing on their upward trajectory, according to Turner Construction Co., whose Turner Building Cost Index rose by 1.68% from Q1 to Q2, and 5.63% since a year ago.
Attilio Rivetti, the Turner vice president responsible for compiling the index, chalked the increases up to the same factors that have been driving construction costs upward since soon after the end of the recession: a tight labor market, plus rising material costs.
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Dee Stribling, BisNow